Suryoday Small Finance Bank Limited (SURYODAY.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+61.5%

₹224.07

vs ₹138.72 price

Levered DCF

-₹210.18

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.32

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	8.75×	9.8×	8.11×	13.01×	-10.02×	207.35×	20.76×	21.45×
P/B	0.64×	0.59×	0.97×	0.64×	0.62×	1.54×	2.16×	2.2×
P/S	0.53×	0.52×	0.97×	0.79×	0.9×	2.88×	2.7×	3.25×
EV / EBITDA	8.81×	10.71×	12.48×	20.41×	-16.66×	130.95×	32.99×	15.85×
Gross margin	50.6%	61.0%	65.4%	65.9%	65.5%	57.1%	67.7%	68.2%
Operating margin	7.9%	6.6%	15.9%	7.9%	-12.3%	1.4%	21.3%	23.9%
Net margin	6.0%	5.3%	11.9%	6.1%	-9.0%	1.4%	13.0%	15.1%
Current ratio	0.15×	0.2×	0.44×	1.15×	17.42×	27.21×	35.54×	0.19×
Debt / equity	1.5×	1.41×	2.02×	1.75×	1.22×	1.06×	2.36×	0.77×
Interest coverage	0.19×	0.17×	0.46×	0.23×	-0.36×	0.03×	0.66×	0.75×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.3%	6.0%	12.0%	4.9%	-6.2%	0.7%	10.4%	10.3%
Return on invested capital	2.6%	1.8%	1.8%	7.5%	-19.7%	2.2%	9.8%	-14.3%
Return on assets	0.8%	0.7%	1.7%	0.8%	-1.1%	0.2%	2.1%	2.4%
Free cash flow yield	43.4%	-146.2%	18.7%	-18.8%	-47.0%	-36.5%	21.5%	-28.7%
Earnings yield	11.4%	10.1%	12.3%	7.7%	-10.0%	0.5%	4.8%	4.7%
Enterprise value	₹23.5B	₹21.4B	₹42.3B	₹29.4B	₹17.9B	₹35.5B	₹39.8B	₹23.5B
Net debt / EBITDA	3.83×	5.02×	7.3×	13.4×	-8.01×	40.44×	13.91×	2.78×
Cash conversion cycle (days)	0	60	-25	-791	-1,073	13	-1,262	-37